Amendment to
Invitation for EoI for Engagement of PMC (No. EoI 01 of 2013 Dated 11.10.2013)
In partial modification to the Invitation for EoI for Engagement of PMC, Clause 9 III e (Page 13) may be read as:
9. PAYMENT TO CONTRACTORS/PMC FOR PROJECT WORKS:
The University shall release the payments on account of Project works as per the following scheme:
9.1 Advance to PMC for meeting the expenditure on account of various incidental charges like publication of tender notices etc.
9.2 Advance on work-to-work basis to the Contractor upto maximum of 10% of the detailed estimates against the Bank Guarantee of the same value. Such advance shall be however released only after due verification & recommendation of the PMC.
9.3 Remaining payments to the contractor shall be made by the University after submission of bills duly verified by the PMC. Such payments shall however, commensurate with the execution of the work.
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Note: Above amendment shall also be applicable to the Clarifications issued dated 29.10.2013